Tuesday, December 19, 2006
Administration does not charge China with currency manipulation
BostonHerald.com
I find it hard to believe that, every 6 months, the Bush administration comes to this conclusion.
The Bush administration said Tuesday that China does not meet the technical requirements of a country that is manipulating its currency to gain unfair trade advantages.
The administration did say Tuesday that “more flexibility in China’s exchange rate will help it achieve more balanced growth” and promote a number of other outcomes that would be economically beneficial.
But in the report it is required to deliver to Congress every six months, the administration said that no country met the “technical requirements for designation” as a currency manipulator.
I find it hard to believe that, every 6 months, the Bush administration comes to this conclusion.
The Bush administration said Tuesday that China does not meet the technical requirements of a country that is manipulating its currency to gain unfair trade advantages.
The administration did say Tuesday that “more flexibility in China’s exchange rate will help it achieve more balanced growth” and promote a number of other outcomes that would be economically beneficial.
But in the report it is required to deliver to Congress every six months, the administration said that no country met the “technical requirements for designation” as a currency manipulator.
